Some Thoughts for Boards of Directors in 2011

Director Notes Series, Vol. 3, No. 1, January 2011

7 Pages Posted: 17 May 2011

See all articles by Martin Lipton

Martin Lipton

Wachtell, Lipton, Rosen & Katz

Steven A. Rosenblum

Wachtell, Lipton, Rosen & Katz

Karessa L. Cain

Wachtell, Lipton, Rosen & Katz

Date Written: January 13, 2011

Abstract

As boards of directors seek to implement the Dodd-Frank Act and other corporate governance reforms and to engage with shareholders, the key is to strike the right balance and bear in mind that good governance is a means to an end rather than an end in itself. The ultimate responsibility and objective of boards is not to ensure perfect compliance with the latest best practices and governance checklists, but to thoughtfully exercise their oversight role, promote a culture of excellence and integrity within the corporation, and work with management to develop strategies for long-term value. This report highlights a few of the more notable corporate governance issues that boards will face in 2011.

Keywords: Dodd-Frank Act, Corporate Governance Issues, Board of Directors, Shareholders

JEL Classification: G34

Suggested Citation

Lipton, Martin and Rosenblum, Steven A. and Cain, Karessa L., Some Thoughts for Boards of Directors in 2011 (January 13, 2011). Director Notes Series, Vol. 3, No. 1, January 2011. Available at SSRN: https://ssrn.com/abstract=1843489

Martin Lipton (Contact Author)

Wachtell, Lipton, Rosen & Katz ( email )

51 West 52nd Street
New York, NY 10019
United States
212-403-1000 (Phone)
212-403-2000 (Fax)

Steven A. Rosenblum

Wachtell, Lipton, Rosen & Katz ( email )

51 West 52nd Street
New York, NY 10019
United States

Karessa L. Cain

Wachtell, Lipton, Rosen & Katz ( email )

51 West 52nd Street
New York, NY 10019
United States

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